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Executive Moves

Jeff Etheredge to Manage Distribution at Integrity

Integrity Mutual Funds has created a chief executive officer position for its distribution arm and named veteran fund industry executive Jeff Etheredge to fill the slot.

Etheredge, who will leave his post as national sales manager for Wells Fargo Funds, will take over the national sales manager spot for Integrity's 16 mutual funds, as well as serve as the distribution chief.

Before joining Wells Fargo, Etheredge worked in national sales manager for Goldman Sachs Mutual Funds, and he served in similar spots at both Pilgrim America Funds and American Capital.

"By hiring a leader with the extensive mutual fund industry experience that Jeff Etheredge has, we are demonstrating our strong commitment to support our recent fund additions with the sales and marketing expertise required to grow our business to a higher level," said Robert Walstad, Integrity's founder and chairman.

Hughes-Guden Joins Invesco as Relationship Manager for N. America

Ruth Hughes-Guden, a 20-year industry veteran, was named senior relationship manager for Invesco North America, the company announced.

Hughes-Guden, who recently served as Morgan Stanley Investment Management's executive director for the company's institutional client group, will work for Invesco out of New York.

"I look forward to helping Invesco expand its business with its existing clients and broaden its reach to potential clients," Hughes-Guden said. "Invesco's broad array of proven investment products combined with superior client service makes this an exciting opportunity."

Hughes-Guden serves on the board of directors of Directed Account Plan, formerly TWA.

Piper Jaffray Names Seitz Private Client Director

Tom Seitz will take over at Piper Jaffray Co. as the director of business development for the company's private client services division. As president and CEO of the annuity distribution arm of MFS/Sun Life, Seitz helped the company grow from $9 billion in assets to $19 billion.

Seitz's main goal will be to develop a training program for the company's financial advisers and prospective financial advisers, Piper Jaffray said. Seitz will report to John Breon, director of the company's private client services division.

Before working at MFS/Sun Life, Seitz was a managing director at RBC Dain Rauscher and held positions previously at Rochdale Asset Management and American Skandia.

Murdock Joins NY Life,Replacing Roussin As Prez

Brian Murdock, a 48-year-old top executive who has worked in the investment industry for more than half his life, was named president of New York Life Investment Management, last week, replacing Steve Roussin.

Murdock, who will also serve on the company's board, comes to New York Life from Merrill Lynch, where he was most recently chief operating officer of the company's Americas unit and previously a chief investment officer for the Pacific region, among other positions.

A graduate of Cornell University and resident of Princeton, N.J., Murdock was called a proven leader and "seasoned veteran with many years of investment experience" by the man he will report to, Chairman and CEO Gary Wendlandt.

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